The QSE Index is giving mixed signals with its movement and the movement of its indicators.

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Daily Technical Trader – Qatar
Wednesday, 27 January 2016
Stocks Covered Today
Ticker Price 1
st
Target
QGMD 9.80 10.60
QSE Index
Level % Ch. Vol. (mn)
Last 8,748.62 -1.13 5.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,000 9,150 9,400
Support 8,500 8,300 8,200
QSE Index Commentary
Overview:
The QSE Index is giving mixed signals
with its movement and the movement of
its indicators. For instance, the movement
of the Index shows a possible Rising
Wedge formation, which is a bearish
continuation pattern. On the other hand,
the MACD, which is a momentum
indicator, shows signs of stability and
possible uptick in the short term. In
addition, the Index stabilized above the
8,700 that we mentioned in yesterday’s
report, which is positive. Although it is
attractive at these levels, buying should be
treated with caution.
Expected Resistance Level: 9,000
Expected Support Level: 8,500
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 26 Jan 25 Jan %Ch.
Value Traded (QR mn) 217.4 237.8 -8.6
Ex. Mkt. Cap. (QR bn) 466.6 471.9 -1.1
Volume (mn) 6.2 6.8 -9.1
Number of Trans. 3,358 3,810 -11.9
Companies Traded 38 40 -5.0
Market Breadth 4:32 7:32 –
QE Indices
Market Indices Close 1D% RSI
Total Return 13,598.47 -1.1 35.0
All Share Index 2,327.32 -1.1 34.1
Banks and Financials 2,391.54 -0.7 35.6
Industrials 2,622.00 -1.5 34.7
Transportation 2,085.19 -2.1 35.4
Real Estate 1,840.19 -0.9 33.9
Insurance 3,591.16 -0.6 36.7
Telecoms 912.84 -1.3 46.5
Consumer 4,819.74 -1.0 32.8
Al Rayan Islamic 3,114.75 -1.1 33.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
DBIS 12.65 -2.6 15.6
MCGS 77.00 -1.3 22.0
QGMD 9.80 -0.6 24.0
AKHI 25.90 -7.0 27.7
QCFS 28.30 0.0 28.1
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QGMD
Price % Ch. Volume
Last 9.80 -0.61 167,259
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 10.00 10.60 11.40
Support 9.30 9.00 8.50
Commentary
Overview:
The name created a Tweezers-Bottom
formation. It is a bullish reversal price
pattern which suggests that despite the
bearish pressure, the bulls dominated the
past two sessions. It is expected to
bounce of the current levels but the main
trend is down.
Expected Target Price: QR10.60 –
QR11.40
A price breakaway above QR10.00
triggers the buy recommendation.
Suggested Stop-Loss Price: QR9.30
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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Intraday Fibonacci Support and Resistance Levels Daily Moving Averages
Support Levels Resistance Levels
Ticker Close 3
rd
2
nd
1
st
Pivot 1
st
2
nd
3
rd
50 SMA 100 SMA 200 SMA
QSE Index 8,748.62 8,600.48 8,652.23 8,684.20 8,735.95 8,787.70 8,819.67 8,871.42 9,956.63 10,728.11 11,336.70
Total Return 13,598.47 13,368.22 13,448.65 13,498.34 13,578.78 13,659.21 13,708.90 13,789.34 15,476.15 16,675.31 17,620.14
All Share 2,327.32 2,288.27 2,302.03 2,310.53 2,324.30 2,338.06 2,346.56 2,360.33 2,654.21 2,856.50 3,024.29
Al Rayan Islamic 3,114.75 3,032.36 3,059.18 3,075.75 3,102.58 3,129.40 3,145.97 3,172.80 3,671.04 4,014.30 4,307.55
Banks & Financials Services
MARK 32.70 31.50 31.86 32.09 32.45 32.81 33.04 33.40 35.81 39.34 42.58
CBQK 38.80 37.40 37.86 38.14 38.60 39.06 39.34 39.80 44.49 49.63 52.73
DHBK 36.00 35.13 35.48 35.69 36.03 36.38 36.59 36.93 42.80 46.33 49.83
QIBK 81.90 79.83 80.60 81.07 81.83 82.60 83.07 83.83 104.46 110.66 108.62
QIIK 61.00 60.07 60.33 60.50 60.77 61.03 61.20 61.47 64.13 69.48 74.25
Insurance
QATI 73.90 72.70 73.04 73.26 73.60 73.94 74.16 74.50 81.67 87.90 90.79
Consumer Goods & Services
MCGS 77.00 72.47 73.77 74.57 75.87 77.17 77.97 79.27 115.54 139.85 157.75
Industrials
IQCD 92.80 90.53 91.41 91.95 92.83 93.71 94.25 95.13 103.21 113.28 125.73
QEWS 178.70 176.77 177.61 178.13 178.97 179.81 180.33 181.17 203.94 208.04 211.56
GISS 41.70 39.37 40.05 40.48 41.17 41.85 42.28 42.97 48.89 55.95 66.50
QIGD 25.80 23.90 24.51 24.89 25.50 26.11 26.49 27.10 35.19 40.48 45.46
Real Estate
BRES 30.85 29.42 29.86 30.13 30.57 31.01 31.28 31.72 38.19 40.99 45.30
UDCD 17.99 17.14 17.38 17.53 17.78 18.02 18.17 18.42 20.13 21.97 22.90
ERES 12.39 12.00 12.11 12.18 12.29 12.40 12.47 12.58 15.31 17.10 17.47
MRDS 11.88 11.24 11.42 11.54 11.72 11.90 12.02 12.20 13.85 15.01 16.68
Telecommunication
ORDS 72.70 70.43 71.35 71.92 72.83 73.75 74.32 75.23 72.13 73.59 80.76
VFQS 10.24 9.87 10.00 10.07 10.19 10.32 10.39 10.51 11.66 12.81 14.57
Transportation
QGTS 19.50 18.90 19.09 19.21 19.40 19.59 19.71 19.90 22.72 23.09 22.69
QNNS 86.00 86.00 86.00 86.00 86.00 86.00 86.00 86.00 93.73 95.76 96.89
Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

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Definitions:
Candlestick: A chart that displays the high, low, opening and closing prices for a security in a single period. The body of the candle is made up by the opening
and the closing prices, i.e., the taller the body the greater the range between these two prices and vice versa. A colored candle denotes a closing price that is
lower than the opening price, while a white candle shows the opposite. The candlestick's shadows or wicks show the period's high and low prices and how they
compare to the opening and closing price. In general, the shape of the candle will vary upon the positions of the period's high, low, opening and closing prices.
Support: A level that could cause more buyers to step in in order to prevent the security from falling or causing the security price to head higher.
Resistance: An inverse of a support level. A resistance area or level could cause more sellers to step in in order to prevent the security from rising or causing the
security price to head lower.
SMA (Simple Moving Average): Is an arithmetic average, which calculates the average price of a security over a defined number of periods and is thus
considered a lagging indicator. SMAs used in our analysis refer to closing prices. In general, SMAs serve many purposes, such as a smoothing tool, an indicative
price direction and potential support/resistance levels.
Market Breadth: Breadth indicates the number of securities that have closed higher vs. the number of decliners in a particular exchange.
MACD (Moving Average Convergence/Divergence): Is a trading indicator, which shows changes in the strength, direction, momentum and duration of a trend in
a stock's price through a collection of three time series calculated from historical closing price data.
RSI (Relative Strength Index): Is a momentum indicator that compares a security’s price gains to its losses for a predetermined number of periods (we generally
use 14 periods). The RSI attempts to point out how a security, in relative terms, is in the overbought/oversold zone. Securities with a RSI above 70 could be
considered as overbought, and below 30 could be considered as oversold.
Pattern/Formation: Is a graphical presentation of a security’s price activity over a certain period of time. Formations come in different shapes (such as, head &
shoulders, triangles, flags, and so on). They can be used to identify potential trends, reversal of trends, price targets, entry and exit points, etc.
Fibonacci Retracements: Are horizontal lines that indicate expected areas of support/resistance for a security based on a predetermined price movement. These
levels are usually indicated by Fibonacci ratios of 23.6%, 38.2%, 50.0%, 61.8% and 100% from that particular movement.
Fibonacci Pivot and Intra-day Support/Resistance: A Pivot Point is generally used to formulate expected future support/resistance levels. From the base Pivot
Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.

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Contacts:
Zaid al-Nafoosi, CMT, CFTe Saugata Sarkar Shahan Keushgerian
Senior Research Analyst Head of Research Senior Research Analyst
Tel: (+974) 4476 6535 Tel: (+974) 4476 6534 Tel: (+974) 4476 6535
zaid.alnafoosi@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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